When people say that FTX was the worst thing that happened to crypto in the long time, maybe we should back up and get some perspective on that. Things were already messed up. As in comparison, total crypto marketcap was thriving during covid and recovered almost instantly to ATH after tesla dumped their crypto. But LUNA was the thing that broke everything. FTX was nothing compared to that.
Do Kwon is still on the run in Serbia of all places, except he denies being on the run. I am guessing he chose Serbia because they don't have an extradition treaty with South Korea, but that seems pointless when he is internationally wanted by Interpol now. So it's a matter of time before he gets caught.
But while running, Do Kwon, Su Zhu (founder of 3 arrow capital) are blaming SBF and even US Federal Prosecutors are investigating SBH for his involvement in the UST crash.
Now i would like to very much like to blame Kwon for UST as he was warned several times about issues with it but he was just too arrogant and annoying to take the threat seriously. But if SBF had anything to do with this, then not only is he blamed for FTX crash and bear run after that, but he just might be the man behind the WHOLE current crypto downfall.
Do Kwon is still on the run in Serbia of all places, except he denies being on the run. I am guessing he chose Serbia because they don't have an extradition treaty with South Korea, but that seems pointless when he is internationally wanted by Interpol now. So it's a matter of time before he gets caught.
But while running, Do Kwon, Su Zhu (founder of 3 arrow capital) are blaming SBF and even US Federal Prosecutors are investigating SBH for his involvement in the UST crash.
Now i would like to very much like to blame Kwon for UST as he was warned several times about issues with it but he was just too arrogant and annoying to take the threat seriously. But if SBF had anything to do with this, then not only is he blamed for FTX crash and bear run after that, but he just might be the man behind the WHOLE current crypto downfall.
Let's not forget that central banks' actions (like raising interest rates) has added more fuel to the fire. A wounded global economy, has greatly depressed both crypto and stocks' market prices. How could we expect demand for crypto to increase when the economy's been going downhill at a very fast pace? Unless the Russo-Ukraine war and the COVID-19 pandemic ends, crypto won't be going anywhere soon.
I'd be a miracle if crypto market prices start to increase in the middle of a worldwide crisis. That would shift people's attention from Fiat right into crypto. And that's something mainstream governments don't want to happen anytime soon. I'm afraid it's going to be a long bear market before we see the light at the end of the tunnel. Who knows where crypto will be going in the future? Just my thoughts
